Cyber security startups face funding drought

MINIMAL STANDARDS: A US bureau on Tuesday unveiled a draft of voluntary standards that companies can adopt to boost cybersecurity — part of an attempt to protect critical industries without setting restrictive and costly regulations. — Reuters

SAN FRANCISCO/BOSTON: The US cyber security industry, once one of the hottest targets for venture capitalists, is now grappling with a funding slump that has forced some startups to sell themselves or cut spending.

Amid widespread concerns about cyber attacks and data breaches, hundreds of security startups have sprung up in recent years, promising "next-generation" technologies to fight cyber criminals, government spies and hacker activists.